First Hawaiian profit climbs 16% | The Honolulu Advertiser

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First Hawaiian profit climbs 16% | The Honolulu Advertiser | Hawaii's Newspaper

Posted on: Thursday, October 16, 2003

First Hawaiian profit climbs 16%

Advertiser Staff

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First Hawaiian Bank

3rd quarter earnings:

Net profit: $112.2 million, up 15.6 percent

Total assets: $37.4 billion, up 9.3 percent

First Hawaiian Bank posted double-digit increases in third-quarter profit, helping parent company BancWest Corp. earn $112.2 million during the three months ended Sept. 30.

The earnings represented a 15.6 percent increase over $97.1 million in net profit for the same quarter a year ago.

Honolulu-based Banc-West, Hawai'i's largest bank holding company, reported 6.4 percent growth in deposits to $25.9 billion. Assets grew 9.3 percent to $37.4 billion.

BancWest is a wholly owned subsidiary of Paris-based BNP Paribas and the owner of 295-branch Bank of the West, with branches in six Western states.

First Hawaiian Bank was the second-largest bank in the state based on assets as of June 30, according to the state financial institutions division.

Bank of Hawaii is expected to release its third-quarter earnings report later this month.

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